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Press Kits - Investing - 2009 RSP

Media Room

TD RRSP Boot Camp:
General Hillier: “Focus on the long-term mission, rely
on your ‘battle buddies’ and hold out for
daylight”

TORONTO (January 7, 2009)
– When times are tough, call in the troops. General
(Retired) Rick Hillier, former Chief of the Defence Staff and
Patricia Lovett-Reid, Senior Vice-President, TD Waterhouse, can
help you navigate through this year’s RRSP season with TD
RRSP Boot Camp: sound, strategic military principles that you can
apply to your financial plan. With many investors currently feeling
like they are losing ground in a battle to preserve their
investments, the following, proven military directives can give you
more control, confidence and a plan of action to help you through
volatile economic times.

“In the chaos of battle, uncertainty,
instability and fear are all part of the scenario. It’s
intense, but there are methods to counter those emotions and help
you stay focused on the mission,” says General Rick
Hillier.

“That ‘battle’
environment describes well how investors have been feeling in the
past few months. And the applicable military principles are
surprisingly appropriate for battle-weary investors contemplating
this year’s RRSP contribution,” says Patricia
Lovett-Reid.

TD RRSP Boot Camp:

Below are five key military principles that General
Hillier advocated during his career as Canada’s top
soldier and Ms. Lovett-Reid’s advice on how to
successfully apply them to your financial planning.

1. Go back to the basics

“Soldiers need to conduct their basic
drills first and foremost, otherwise they’ll lose the
fight,” says General Hillier.

“The same strategy applies to investing
in your RRSP. There is a tendency right now to want to put your
financial statement away, but you’ve got to confront the
facts even though it might be tough,” says Ms.
Lovett-Reid. “You need to start off the new year by
reviewing your financial plan and assessing your investment
objectives, risk tolerance, and time horizon. An advisor can work
with you to make sure your portfolio is properly allocated and
diversified, and keep your long-term financial plan on
track.”

2. Think long

“Leaders in military strategy
‘think long’,” says General Hillier.
“In battle, it is essential to stay focused on the
mission at hand, which means thinking about the long-term goal and
not abandoning everything to overcome short-term setbacks. It is
the difference between losing the battle and winning the
war.”

“Think about your long-term strategy,
such as saving for your retirement which might be 20, 30, even 40
years away,” echoes Ms. Lovett-Reid. “History
has shown that the current economic situation will not last, so it
is essential to focus on the long-term goals and not panic when the
markets are volatile.”

3. You are not alone: rely on your battle
buddies

“In the middle of a mission,
what’s most important to us are our ‘battle
buddies’,” says General Hillier.
“It’s all about the people you can rely on, who
get you through the worst and who are your trusted
advisors.”

“The same tenet applies during tough
economic times. Canadians may develop what feels like a
‘siege mentality’, but you need to realize that
you’re not alone and that there are experienced
professionals you can rely on for advice and counsel to get you
through it,” says Ms. Lovett-Reid.

4. Always keep a reserve

“Never commit to anything completely and
always have a little something up your sleeve,” says
General Hillier. “A reserve gives you
flexibility.”

“Make sure that you keep a reserve of
cash in your portfolio,” says Ms. Lovett-Reid.
“It will give you the flexibility to take advantage of
buying opportunities when they present themselves. Be prepared for
the unexpected, keep 3-6 months worth of living expenses in safe,
liquid investments like a cashable GIC or savings account to act as
an emergency source of funds if you need it.”

5. Hold out for daylight

“When you are in a siege, nights are the
toughest, but in the morning, daylight will come and your
confidence will increase dramatically,” explains General
Hillier. “There are always tough times but we make it
through to the good times; we just have to stay focused on the
long-term mission and wait until daylight comes.”

“The key is to not let this short-term
volatility cause you to overreact and change your long-term plans.
It is likely going to be a tough year ahead, but history has shown
it won’t last, so stay focused on the future: balance
your expenses, find focused ways in your own household to reduce
costs and continue to be growth-oriented by making your RRSP
contribution. There is a light at the end of the tunnel,”
says Ms. Lovett-Reid.

General (Retired) Rick Hillier joined TD Bank
Financial Group in September 2008 as a senior advisor, to support
select client/customer experience initiatives, and leadership
development and training activities.

About TD Bank Financial Group

The Toronto-Dominion Bank and its subsidiaries are
collectively known as TD Bank Financial Group. TD Bank Financial
Group is the seventh largest bank in North America by branches and
serves approximately 17 million customers in four key businesses
operating in a number of locations in key financial centres around
the globe: Canadian Personal and Commercial Banking, including TD
Canada Trust and TD Insurance; Wealth Management, including TD
Waterhouse and an investment in TD Ameritrade;

U.S. Personal and Commercial Banking through TD
Banknorth and TD Bank, America’s Most Convenient Bank;
and Wholesale Banking, including TD Securities. TD Bank Financial
Group also ranks among the world's leading on-line financial
services firms, with more than 5.5 million on-line customers. TD
Bank Financial Group had CDN$563 billion in assets as of October
31, 2008. The Toronto-Dominion Bank trades under the symbol
"TD" on the Toronto Stock Exchange and New York
Stock Exchange.